FINANCIAL ACCOUNTING IN THE ACTIVITIES OF STATE ADMINISTRATION BODIES
Abstract
The article reveals the justified role of state administration bodies in the development of the information infrastructure of public finances. A developed financial system is a fundamental element of the development of a modern economy. It plays an important role in ensuring the effective allocation of capital, which allows the economy to function effectively and competitively. The financial system also provides financing for enterprises and innovations, which contributes to their development and growth. In addition, it stimulates entrepreneurship, providing opportunities for attracting capital and risk capital for new projects and businesses. A developed financial system contributes to economic growth, creating conditions for investment, market development and support for entrepreneurial activity. Financial accounting promotes the development of other sectors of the economy, innovation and support for entrepreneurship, which stimulates an increase in the standard of living of society. The purpose of the article is to study the role of financial accounting in the activities of state administration bodies and its impact on the development of information infrastructure, which will contribute to the publicity of financial transactions and openness of information. It has been proven that the provision of timely and reliable information by state authorities ensures the adoption of effective decisions that will contribute to the development of the country. It has been established that constant monitoring and improvement of the information that is covered will contribute to increasing the financial stability of the state. In the article, the author emphasizes the need to cover reliable information and its thorough analysis for making effective decisions. The development of information technologies has significantly changed the relationship between society and state structures. Thanks to the availability of information on the Internet and social networks, citizens have become more demanding regarding the transparency and openness of the activities of government bodies.
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